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Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

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SI Reporter  |  New Delhi 

Benchmark indices fell over 1% on Wednesday, losing for seventh straight session after army conducted operation along India-Myanmar border. The BSE Sensex settled at a 3-month low while the broader Nifty50 index ended at 1.5 month low ahead of the September F&O expiry. Investors were also on edge after rupee sank to a more than six-month low on foreign fund outflows.  The sentiment was also dampened after a Reuters poll said that the Reserve Bank of India will hold policy steady at its October 4 meeting, and well past next year, amid weak economic growth and signs ...

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Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Market rundwn by Anand James, Chief Market Strategist of Geojit Financial Services   Updates of military action in the Eastern border impelled the market to hasten the market’s falls which was already in a slippery slope ahead of F&O expiry. Sharp weakness in rupee and a rise in VIX also meant that risk takers were few. FII being reluctant buyer in Indian equities this month, and a volley of IPOs had earlier meant that the secondary market was finding hard to sustain at the 20 month peaks.

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Pharma was one of the biggest sectoral loser, down nearly 3% with Divi's Lab down over 10% for the day. Source: NSE

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Markets Check Nifty ended the day at 1.5 month low while the BSE Sensex settled at 3-month low. In broader markets, the BSE Midcap and BSE Smallcap indices shuts at 5-week low

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Sectoral Trend Source: NSE

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Nifty PSU Bank index ends at 2.5 month low Nifty PSU Bank index fell over 3% with all constituents trading in red.  Source: NSE

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Top Sensex gainers and losers Source: BSE

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Broader Markets The broader markets underperformed the benchmark indices with the BSE Midcap and BSE Smallcap indices down 2% each

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Markets at close Benchmark indices fell over 1% on Wednesday, losing for seventh straight session, their longest losing streak in over nine months, after army conducted operation along India-Myanmar border. The S&P BSE Sensex settled at 31,159, down 439 points while the broader Nifty50 index ended at 9,735, down 135 points

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Army conducts operation along India-Myanmar border   The Army today inflicted "heavy casualties" on NSCN(K) cadre during an operation along the India-Myanmar border, the Eastern Command said today. READ MORE

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Buzzing Stock Alstom shares rose nearly 5% following confirmation that the French firm will merge with Siemens.   The companies will merge their rail operations and have decided to make Alstom's Henri Poupart-Lafarge their chief executive.

Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Market Check The benchmark indices extended losses amid Indo-Myanmar border tensions. At 3:06 pm, the S&P BSE Sensex was trading at 31,191, down 408 points while the broader Nifty50 index was ruling at 9,744, down 127 points.

First Published: Wed, September 27 2017. 15:30 IST
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Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag

Catch all live market action here

Benchmark indices fell over 1% on Wednesday, losing for seventh straight session after army conducted operation along India-Myanmar border. The BSE Sensex settled at a 3-month low while the broader Nifty50 index ended at 1.5 month low ahead of the September F&O expiry. Investors were also on edge after rupee sank to a more than six-month low on foreign fund outflows.  The sentiment was also dampened after a Reuters poll said that the Reserve Bank of India will hold policy steady at its October 4 meeting, and well past next year, amid weak economic growth and signs ...

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